We do business in accordance
With the Federal Fair Housing
Laws and the Equal Credit
Guaranteed Asset Protection
If your vehicle is damaged beyond repair or stolen, your insurance company may only pay what the
vehicle is worth—which is often less than what you owe on your loan. Guaranteed Asset Protection
(GAP) helps protect your loan against the unforeseen by cancelling the difference between the vehicle’s
value and the balance of your loan.
Call [credit union name] at [phone number] to enroll today!
Your purchase of MEMBER’S CHOICETM Guaranteed Asset Protection (GAP) is optional and will not
affect your application for credit or the terms of any credit agreement required to obtain a loan. Certain
eligibility requirements, conditions, and exclusions may apply. Please contact your loan representative,
or refer to the Member Agreement for a full explanation of the terms of GAP. If you choose GAP, adding
the product fee to your loan amount will increase the cost of GAP. You may cancel the protection at any
time. If you cancel protection within 90 days you will receive a full refund of any fee paid. You will receive
additional information before you are required to pay the fee for this product.
Additional language for state chartered credit unions in FL, GA, IA, RI, UT, VT and WI:
You may choose GAP with or without a refund provision. Prices of the refundable and non-refundable
products are likely to differ. If you choose a refundable product, you may cancel at any time during the
loan and receive a refund of the unearned fee calculated by the actuarial method.
Additional language for state chartered credit unions in CO and SC:
You may cancel at any time during the loan and receive a refund of the unearned fee calculated by the
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